SIRI Intraday Updates for the Week of 10/06/08

This is the first of a weekly sticky thread for forum members to talk about the intraday happenings of Sirius XM. If I fail to create a new thread each Monday morning feel free to create a new thread with a like title (see above) and I will be sure to make it sticky

Boy it sure got quiet in here

When times get tough, silence befalls us.
no new news, not many discussions, this forum has become as dead as the stock, oh well.
Wheres the updates, positive guidance, updates on the fraudulent CEO?
I guess the curtain has fallen.

Thanks to Charles for adding this sticky for intraday discussion of SIRI...

I will start the discussion by saying that the market sucks right now, but it also depends on how you look at it. If you are a new investor or trader coming in with fresh money, you might have a different view. Good stocks are on sale for fire sale prices. If you are underwater with your trades and investments, you clearly have a different view.

SIRI is now testing it's recent intraday low of .45. If there is a total panic washout, I am bracing for a panic sudden dip to around .39, which was the bottom before it took off to around $10 in 2003. I'm not saying that will happen, but this market is nuts.....SIRI could just as well recover and close green for all I know. It did bounce off of this .45 level pretty hard earlier this morning....

There hasn't been any SIRI specific news that I have seen today. I am surprised that the Fed action and rate cuts didn't juice the market more. People are in panic mode and it seems every rally is getting sold off. This can't go on forever.....or can it?

My view is that Mel has got to time his statements right for the greatest bang. You don't want his statements to be wasted and overshadowed during broad market swings, when the stock would be under pressure with the market or rebound with the market from oversold conditions anyway.

You don't want his statements to be wasted at the wrong time. I would prefer to see the stock rebound on it's own a bit first, and then see his statements give it some additional momentum....